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Zambia’s annual inflation surged to 16.5 percent in November, 2024, up from 15.7 percent in October, driven primarily by rising food prices, particularly for bread and cereals.
Food inflation remained steady at 18.2 percent, while non-food inflation rose to 14.1 percent, up from 12.2 percent the previous month.
Lusaka province contributed the most to the inflation increase, adding four percentage points, followed by the Copperbelt at 3.7 points.
Other provinces also saw contributions, with Central and Southern provinces adding 2.3 and 1.9 points, respectively.
Read more:Zambia faces K0.6 billion trade deficit, as inflation hits 15.6%
Monthly inflation for November was recorded at 1.6 percent nearly doubling the previous month’s 0.8%, mainly due to price hikes in selected non-food items.
Meanwhile, Zambia’s trade deficit expanded significantly in October, reaching K3.1 billion, up from K1.7 billion in September.
While exports rose by 5.6 percent to K25.6 billion, driven by increased earnings from nickel ores, copper anodes, and aerated waters, imports grew by 10.7 to K28.7 billion, mainly due to higher costs for consumer goods, electrical energy, and zinc concentrates.
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